On this week’s episode of News & Views, sponsored by Vanta, The Fintech Times Podcast team speaks about the fact that two million UK adults have borrowed from illegal lenders in the last 12 months and how Somalia has successfully launched the country’s first instant payment system.
The conversation started off with Francis bringing to light how many families were relying on illegal lenders and loans to make it through the Easter holidays. Together with Tom, the duo explore how fintechs can solve the lending issue facing families across the UK and why removing the stigma surrounding debt help is necessary.
Following this, the conversation turned to instant payments in Somalia. Tom highlighted the impact digitisation was having in the country, and speaking to Francis, explained why it is important that all financial institutions buy into advancing the region’s financial ecosystem in a collaborative manner.
Listen to the News & Views Podcast on your favourite platform:
Creditspring Reveals Affordable Credit Options Needed as 2 Million UK Adults Turn to Illegal Lenders
New Era for Payments in Somalia: Somalia Payment Switch Launches Instant Payment System
